Azerbaijan, Baku, 27 February / Trend corr. I.Khalilova / The European Bank of Reconstruction and Development (EBRD) is planning for the first time to finance housing in Azerbaijan through local banks, Fransiz Delei, EBRD representative head, stated.
"Azerbaijani banks started implementation of own mortgage program and we are ready to receive their support, Delei stated.
Alongside with mortgage financing European Bank will render technical assistance to banks.
EBRD is prepared to cooperate with Azerbaijani Mortgage Fund (AMF), which operate at the National Bank of Azerbaijan (NBA). This issue will be considered during the next meeting.
AMF holds negotiations with the International Financial Corporation and Switzerland State Secretariat on Economic Issues (Seco) to get technical assistance. The work is also being held with World Bank. The project is being developed to upgrade the financial sector of the country.
Fund has already signed memorandum on mutual cooperation with International organization ACDI VOCA, sponsored by US Agency on International Development (USAID), as well as AMF.
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